Aton Updates Latest Developments ON Its Declaration of Commerciality and the Reform of the Egyptian Minerals Sector
FOR IMMEDIATE RELEASE:
ATON UPDATES LATEST DEVELOPMENTS ON ITS DECLARATION OF COMMERCIALITY AND THE REFORM
OF THE EGYPTIAN MINERALS SECTOR
Vancouver, 07 August 2018: Aton Resources Inc. (AAN: TSX-V) (“Aton” or the “Company") is very pleased to
update investors on the latest developments at the Company’s 100% owned Abu Marawat Concession , and
within the Egyptian minerals sector .
EMRA’s Acceptance of Aton’s study in support of commerciality
The company is pleased to announce that it has received official written notice from EMRA accepting its study
in support of its declaration of commerciality. Accordingly, as per the terms of its Concession Agreement,
EMRA and Aton are automatically granted an extension to their exploration license.
Mining reform
Recently the Prime Minister Madbouly of Egypt has created a n inter-governmental committee to evaluate
recommendations in the reform the mining regime and law. Earlier this year, the Ministry of Petroleum and
Mineral Resources hired global mining consultants Wood Mackenzie to put forward a plan to reform the
mining regime framework and an implementation plan, such as they did in Ecuador, to bring the Egypt in line
with the rest of the world and to improve its attractiveness for exploration and mini ng investment. Some of
the changes that it is understood have been proposed are:
• Scrapping the oil and gas based Production Sharing Agreement and moving to a tax, rent and
royalty model.
• Eliminating the EMRA-Mining Investor 50:50 Joint Venture Company com pletely.
• Allowing exploration companies to acquire exploration ground through a Swiss challenge
mechanism as in Ecuador. This would also include eliminating the need for the exploration license
to be made into a law, thus streamlining the process.
“This is very exciting news for Aton as it allows us to move forward not only in developing our Hamama West
Project, but in progressing our Rodruin exploration target. ” Said Mark Campbell, President and CEO . “We
will now move to begin our next steps in advancing Hamama West and t he first pass drilling program at the
Rodruin prospect is set to commence shortly. With all the signs are pointing towards the long awaited reform
of the Egyptian mining sector and the speed that the Government appear to be moving at to implement these
changes, leads us to believe that major positive changes for exploration companies, mining companies and
the Egyptian Minerals industry overall is at hand. With the winds of change blowing strongly, we will now be
looking for partners who wi ll be interested in assisting us in the development of our projects. Something that
would have seem ed almost impossible a year ago ”.
About Aton Resources Inc.
Aton Resources Inc. (AAN: TSX -V) is focused on its 100% owned Abu Marawat Concession (“Abu Marawat”),
located in Egypt’s Arabian- Nubian Shield, approximately 200 km north of Centamin’s Sukari gold mine. Aton
has identified a 40km long gold mineralised trend at Abu Marawat, anchored by the Hamama deposit in the
west and the Abu Marawat deposit in the east, containing numerous gold exploration targets, including three
historic British mines. Aton has identified several distinct geological trends within Abu Marawat, which
display potential for the development of RIRG and orogenic gold mineralisation, VMS precious and base
metal mineralisation, and epithermal -IOCG precious and base metal mineralisation. Abu Marawat is over
738km2 in size and is located in an area of excellent infrastructure; a four -lane highway, a 220kV power line,
and a water pipeline are in close proximity.
For further information regarding Aton Resources Inc., please visit us at www.atonresources.com or
contact:
Mark Campbell
President and Chief Executive Officer
Tel: +202-27356548
Email: [email protected]
Note Regarding Forward-Looking Statements
Some of the statements contained in this release are forward -looking statements. Since forward -looking
statements address future events and conditions; by their very nature they involve inherent risks and
uncertainties. Actual results in each case could differ materially from those currently anticipated in such
statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release .